Built first shopping mall late 1960s, founded New England Development 1978. Sold 14 malls to Simon Property Group for $1.7 billion late 1990s. Plowed proceeds into massive residential, retail developments like 3,000-acre Pine Hills. Planned community has potential for 2,800 houses and apartments, 1.3 million square feet of office, retail and hotel space, 3 golf courses. Owns chunks of commercial property in coastal Massachusetts town Newburyport, $6.5 million Nantucket mansion.